Acquisition of Furey Filter & Pump and PSI Engineering enhances pump, filtration, service and fabrication business

COLUMBUS, Ohio — June 18, 2019 — Ohio Transmission Corporation, an industrial equipment service provider and distributor headquartered in Columbus, Ohio, today announced the acquisition of Furey Filter & Pump and its subsidiary, PSI Engineering, two companies that together have 65 employees in Wisconsin and Minnesota.

Founded in 1956, Furey Filter & Pump, based in the Milwaukee, Wisconsin suburb of Germantown, has established itself as a premier resource for pumps, filtration, service and full-system engineering and fabrication, including certified welding capabilities. PSI Engineering, which was founded as Pumps & Supplies Inc., in 1974, was renamed after Furey Filter & Pump acquired the company in 2004. PSI, headquartered in the Minneapolis/St. Paul, Minnesota area, is an industrial equipment distributor for pumps, filters, mechanical seals and valves, and the company offers a full range of services to meet any repair of fluid-handling equipment.

“I am pleased to announce that OTC has acquired Furey Filter & Pump and their PSI Engineering division,” said Philip Derrow, President and CEO of Ohio Transmission Corp. “We are humbled to provide a great new home for the Furey and PSI associates.”

“Furey Filter & Pump and PSI Engineering have been well-respected solutions providers in their markets for several decades,” said Matt Piatt, COO and CFO of Ohio Transmission Corporation. “They have carved an excellent market position for themselves by providing exceptional customer service and superior engineering support to their customers over the years, and they have some unique capabilities to design and manufacture complete fluid-handling systems. The addition of Furey Filter & Pump and PSI Engineering to the OTC family will provide even better service and greater capabilities to all of our customers.”

The company will become a division of OTP Industrial Solutions, which provides technical sales and service for industrial automation, motion control, fluid power, pumps, spray finishing, sealant and adhesive application and power transmission systems and products. Furey Filter & Pump and PSI Engineering will continue to operate under their current names and with current management, including George Furey, president, and Jack Furey, vice president, who will both remain with the organization.

“Furey Filter & Pump and PSI Engineering will become an important part of our pump, filtration, service and fabrication business,” said Rob Webb, President of OTP Industrial Solutions. “I know that our shared commitment to providing customers with exceptional customer service, innovative solutions, products and service will make for a successful partnership.”

Becoming part of OTP Industrial Solutions will offer growth opportunities for Furey and PSI employees, customers and suppliers, according to George Furey.

“We strive to safely deliver quality products, engineering expertise and technical support as well as repair and field services to the market,” Furey said. “OTC provides resources that will enhance our ability to deliver those objectives. Our employees will also benefit from training and growth opportunities as well as the availability of marketing and sales tools for customer and project recognition. Ultimately, our customers will benefit from OTC’s commitment to providing the products and services that the customers need when they need them.”

With this acquisition, Ohio Transmission Corporation now has 37 locations throughout the South, Southeast, Midwest and Northeast regions, along with 18 service shops. The addition of Furey Filter & Pump and PSI Engineering associates expands Ohio Transmission Corporation’s existing workforce to nearly 1,000 employees.

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